patrick.net

"Argentum et aurum comparanda sunt."

Is that "silver and gold are required for purchase" or "silver and gold are to be purchased?"

https://www.zerohedge.com/markets/venezuelans-turn-gold-nuggets-local-currency-implodes

https://goldprice.org/gold-price-per-gram.html

Looks like a gram of gold is just over $57.

Stocks and housing will rise with inflation, there is no value loss there. However those assets may become illiquid during hyperinflation, too expensive to buy. So if you're looking to trade or sell fast that may become a problem. Supply chain and service disruptions are the biggest threats right now imo, esp. fueled by the tyrannical jab mandates.

They are using gold instead of Bitcoin? whoodathunk?

At one time in the Virginia colonies, tobacco leaves were money. I can see cigarettes becoming a form of currency today.

HeadSet says

Is that "silver and gold are required for purchase" or "silver and gold are to be purchased?"

"Silver and gold must be bought."

mell says

Stocks and housing will rise with inflation, there is no value loss there. However those assets may become illiquid during hyperinflation, too expensive to buy. So if you're looking to trade or sell fast that may become a problem. Supply chain and service disruptions are the biggest threats right now imo, esp. fueled by the tyrannical jab mandates.

During an economic collapse, everything is re-valued to what it's really worth. Tesla, if it survives, will not be worth a trillion dollars in gold and silver. Shitshack's in major cities will not be worth half a million in gold and silver. And dollars will not worth anything.

Supply chain and service interruptions are a direct result of inflation, and hyperinflation. As dollars lose value, people will demand more of them for the same amount of work. This always starts at the root of supply, and spreads from there.

NuttBoxer says

mell says

Stocks and housing will rise with inflation, there is no value loss there. However those assets may become illiquid during hyperinflation, too expensive to buy. So if you're looking to trade or sell fast that may become a problem. Supply chain and service disruptions are the biggest threats right now imo, esp. fueled by the tyrannical jab mandates.

During an economic collapse, everything is re-valued to what it's really worth. Tesla, if it survives, will not be worth a trillion dollars in gold and silver. Shitshack's in major cities will not be worth half a million in gold and silver. And dollars will not worth anything.

Supply chain and service interruptions are a direct result of inflation, and hyperinflation. As dollars lose value, people will demand more of them for the same amount of work. This always starts at the root of supply, and spreads from there.

Yeah but people who flee the shit metropolitan areas will bid up the nice suburbs and country dwellings. TSLA has been overvalued forever and it will take severe depression or hyperinflation to revalue it. Many big positions simply sitting on their shares need to exit for a crash. The Fed and their minions will do their best to prop up those assets forever and only if inevitable they will let them fail, but not before letting many if the wealthy exit first. What I meant is that asset prices will stay high for a longer time while critical services and goods for the masses such as police or medical care will degrade fast. The wealthy will have private medical care and security. This can go on for years unless the masses recognize the decline vs being frogs in boiling water and revolt. There is no indication of a stock market crash which just made new highs. You need a few more warning signs and red flag indicators than inflation imo. Def time to stay alert and monitor the situation

I hope my 100lb plus of ammo goes up in value, maybe I should start buying pallets instead of cases.

mell says

The Fed and their minions will do their best to prop up those assets forever and only if inevitable they will let them fail

At the unprecedented levels of inflation we have around the world right now, I would never assume any central bank is capable of that kind of control. I think there's been more than enough warning signs to get out at this point. Anyone still in is either in denial, or thinking they can predict the top.

Something else to consider. Covid is an instrument of central banking. There were articles circulating last year about states buying up large amounts of food stuffs. If you remain dollars and lose everything, you may be put in a position of having to choose starvation or the shot.

Knowledge (medical, dental, brewing, mechanical)
Potable water
Food (especially agricultural)
Security or Provide it
Currency (fiat, precious, barter)

In an ideal world, if you had all 5 you would be OK in a systematic collapse.

HeadSet says

At one time in the Virginia colonies, tobacco leaves were money. I can see cigarettes becoming a form of currency today.

I finally finished "The Wealth of Nations" and near the end Adam Smith brings this up specifically as an example of how a commodity can become money, but explains that this case was due to the unusual circumstance of that particular commodity being in universal demand in Britain. Virginia would pay for British imports with tobacco leaves.

Smith also says that the US colonies did not want to hold much gold or silver because their primary problem was a lack of productive capital like machinery and ploughs, etc. So whatever gold or silver they got would be quickly sent abroad to purchase those things, and that this was a more profitable strategy than holding the gold and silver any longer than needed.

Smith also repeatedly refers to the "12 colonies". Not sure which one he left out.

Patrick says

Smith also repeatedly refers to the "12 colonies". Not sure which one he left out.

Delaware. Was part of the Pennsylvania colony.

Patrick says

but explains that this case was due to the unusual circumstance of that particular commodity being in universal demand in Britain. Virginia would pay for British imports with tobacco leaves.

Smith also says that the US colonies did not want to hold much gold or silver because their primary problem was a lack of productive capital like machinery and ploughs, etc. So whatever gold or silver they got would be quickly sent abroad to purchase those things, and that this was a more profitable strategy than holding the gold and silver any longer than needed.

This view completely ignores the colonies first foray into fiat currency. Re-read Griffin, I think you'll see the gap Smith left pretty quickly.

Cigarettes where used as currency in East Germany, for a more recent example.

You mean the rapid devaluation of paper currencies, as in "Not worth a continental"?

https://marcliebman.com/not-worth-a-continental/

NuttBoxer says

Cigarettes where used as currency in East Germany, for a more recent example.

Funny if the cigarette paper was just rolled up paper money.

Patrick says

You mean the rapid devaluation of paper currencies, as in "Not worth a continental"?

Yep. Remember bad money when it's legislated as legal tender always drives out good. I believe Rhode Island was the best example during this time of what happens when government forces bad money, and all the societal problems that breeds.